India can make or break world trade talks

NEW DELHI – India can “make or break” the Doha global trade talks, the United States said on Friday, as it urged cooperation among all nations to clinch a deal.

“India is in a profoundly important position in these negotiations – one of a handful of countries that can make or break the Doha Round,” US Trade Representative Susan Schwab told a business audience. Her statement came after six leading trade players vowed here late Thursday to accelerate efforts to conclude the Doha round, aimed at lifting millions out of poverty, and said they were aiming to get a deal by the end of the year.”We must work and move together – and we must do so soon – to realise the full potential of the Doha Round,” Schwab said.Ministers from the United States, the European Union, India, Brazil, Australia and Japan – known as the G6 – said they would work “with the entire WTO membership in the best interests of completing the (Doha) round in the time envisaged.””The nature of India’s engagement will determine that of many other developing countries,” said Schwab.”Nothing will give a bigger boost to development than a strong market opening outcome that generates new trade flows in all three major areas of negotiations – agriculture, manufactured goods and services,” she said.”India has a greater stake than most in achieving such an outcome,” she added.The Doha Round, launched in 2001 in the Qatari capital, has repeatedly missed deadlines as wealthy and developing nations have struggled to strike a deal on opening up trade in agricultural, industrial goods and services.Developing nations are pushing the US and other wealthy nations to slash farm subsidies, while poorer countries are being squeezed to allow more access to their markets.The meeting in Delhi marked the first time the leading trade powers had assembled for talks since the Doha discussions collapsed last July when Washington refused to yield more ground in cutting farm subsidies.Schwab was in New Delhi for discussions with her Indian counterpart, Commerce Minister Kamal Nath after earlier attending the G6 meeting.Nath, also addressing the forum organised by the Confederation of Indian Industry, said the challenge before the G6 was to see how “creative we can be to work around the differences to ensure it’s a win-win situation for all.””We must strengthen the rule-based multilateral trading system,” he added.Nampa-AFPHer statement came after six leading trade players vowed here late Thursday to accelerate efforts to conclude the Doha round, aimed at lifting millions out of poverty, and said they were aiming to get a deal by the end of the year.”We must work and move together – and we must do so soon – to realise the full potential of the Doha Round,” Schwab said.Ministers from the United States, the European Union, India, Brazil, Australia and Japan – known as the G6 – said they would work “with the entire WTO membership in the best interests of completing the (Doha) round in the time envisaged.””The nature of India’s engagement will determine that of many other developing countries,” said Schwab.”Nothing will give a bigger boost to development than a strong market opening outcome that generates new trade flows in all three major areas of negotiations – agriculture, manufactured goods and services,” she said.”India has a greater stake than most in achieving such an outcome,” she added.The Doha Round, launched in 2001 in the Qatari capital, has repeatedly missed deadlines as wealthy and developing nations have struggled to strike a deal on opening up trade in agricultural, industrial goods and services.Developing nations are pushing the US and other wealthy nations to slash farm subsidies, while poorer countries are being squeezed to allow more access to their markets.The meeting in Delhi marked the first time the leading trade powers had assembled for talks since the Doha discussions collapsed last July when Washington refused to yield more ground in cutting farm subsidies.Schwab was in New Delhi for discussions with her Indian counterpart, Commerce Minister Kamal Nath after earlier attending the G6 meeting.Nath, also addressing the forum organised by the Confederation of Indian Industry, said the challenge before the G6 was to see how “creative we can be to work around the differences to ensure it’s a win-win situation for all.””We must strengthen the rule-based multilateral trading system,” he added.Nampa-AFP